Specialty Coatings Market Briefing Report

Description

The global specialty coatings market was worth more than USD xx billion in revenue in 2017 and is expected to cross USD xx billion in 2022, growing at a healthy CAGR of over xx% during the forecast period.

Specialty coatings are used to protect building structures, machinery equipment and others. Specialty coatings are segmented based on type and application. Some of the common specialty coatings include alkyd, epoxy, acrylic urethane, polyamide and others. Some of the benefits of specialty coatings are fire or temperature resistance, antireflection, sealing, substrate compatibility, temporary protection, excellent adhesive properties, and enhanced corrosion protection. Specialty coatings use different technologies like waterborne coatings, high-solids coatings, two-component systems, powder coatings, and radiation-curable coatings.

Based on type, specialty coatings can be

Corrosion resistant

Shielding

Optical

Industrial

Wear Resistant

Anti-microbial

Conformal

others

Based on end-use application specialty coatings market can be

Electrical & Electronics

Refineries & oil and gas

Transportation

Aerospace & Defense

Pulp and Paper

Water and Waste Water Treatment

Fireproofing

Others

As specialty coatings are the major products used in electrical/electronics, automotive, aerospace and other industries, demand from these industries is expected to increase the growth of specialty coatings market. Demand from electrical/electronics, automotive, aerospace and other industries is actually increasing because of growing population and extra income in developing countries.

Drivers and Restraints of Global Specialty Coatings Market

Growing investments in electrical/electronics, automotive, aerospace and other industries in regions like Asia and the Americas are likely to offer tremendous possibilities for specialty coatings market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.

Specialty coatings have a probability of volatility in supply and prices. Feedstock chemicals affect the cost of production of specialty coatings. Health concerns on the usage of certain specialty coatings, especially VOCs are a growing trend in the market. Existing and future health regulations concerning the use of certain specialty coatings are likely to challenge the market growth.

Global Specialty Coatings Market by Region

Asia was the largest consumer of specialty coatings and this pattern is anticipated to continue to be identical over the following few years. Consumption in Asia is showing upward trend because of increase in population growth and economic activity. Growing demand from electrical/electronics, automotive, aerospace and other industries will drive specialty coatings market in Asia. With major production capacities in China, the region is likely to grow in terms of global supply capability. Demand from North America was relatively stable and is likely to stay same in the next few years. Consumption of specialty coatings in the Europe is likely to grow at a significant rate.